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Today In Payments: New Funding Could Value Klarna At $40 Billion; Paytm Eyes $3 Billion IPO

Today In Payments: New Funding Could Value Klarna At $40 Billion; Paytm Eyes $3 Billion IPO

May 28, 2021 at 04:44PM
by PYMNTS

In today’s top news, a new funding round could value Klarna at $40 billion, and Paytm is reportedly planning a $3 billion initial public offering (IPO). Plus, savings and investing app Acorns is going public through a SPAC merger.

New Funding Round Could Value Klarna At $40 Billion

European buy now, pay later (BNPL) company Klarna is on the verge of securing a new funding round, with investors including SoftBank, that could value the firm at $40 billion.

India’s Paytm Eyes $3 Billion IPO At $25 Billion Valuation

Indian payments provider Paytm is eyeing a $3 billion IPO at a valuation of $25 billion to $30 billion that could be the biggest the country has ever seen. The payments startup could list in India to coincide with the Diwali festival season that starts Nov. 4.

Acorns To Go Public Via SPAC At $2.2B Valuation

Acorns Grow Inc., which offers a savings and investing app, is poised to go public by combining with Pioneer Merger Corp, a special-purpose acquisition company (SPAC) with a valuation of about $2.2 billion. The company offers education, investing, banking, earning and wealth-making, with subscriptions available in three membership levels.

InComm, Visa Team On Healthcare Payments Solution

InComm Payments, which works in global payments tech, is partnering with Visa on a new healthcare benefits solution. The Dual Network Benefits Card will be available for use for healthcare plans, simplifying the supplemental benefits and incentive offerings.

Google Advances Its Open Commerce Ecosystem For Shoppers And Retailers

Google’s announcement Thursday (May 27) of the expansion of its open retail network is intended to turn the world of search into a commerce ecosystem open to all retailers whatever the size. Key to Google’s approach, Matt Madrigal, Google’s vice president and general manager of merchant shopping, told Karen Webster, is to enable those shopper/retail connections, not get in the middle of them.

Machine Learning Helps FIs Identify Account Holders’ Fraudster Twins

Machine learning can help digital banks do much of the heavy lifting during customer onboarding — especially if applicants have common names. In the Digital Onboarding Tracker, OakNorth Bank’s Sean Hunter explains how ML-based systems can help banks avoid confusing legit account holders with their fraudster twins.

Amazon’s Multichannel Bid To Bring ‘Amazon Effect’ To Healthcare

With roughly one-fifth of the U.S. economy at stake, it’s no surprise that Amazon has been looking to increase its exposure to healthcare, including its latest omnichannel bid to sell prescriptions and its growing growth efforts in telemedicine.